TY - JOUR T1 - Gloucester Becomes Unglued JF - Trading SP - 53 LP - 58 VL - 2004 IS - 1 AU - Armand P. Lucarelli AU - Stephen S. Schultz Y1 - 2004/03/20 UR - http://guides.pm-research.com/content/2004/1/53.abstract N2 - Founded in the 1960s, the Gloucester Company suffered substantial losses in 2001 and 2002, more than wiping out the company's net worth. Yet 12 months later, gross margin was up 40%, unit costs were down 22%, and profits were at an all-time high. This remarkable reversal under the leadership of Capital Restoration LLC, a Boston turnaround firm, earned it the 2003 “Small Company Turnaround of the Year” award from the Turnaround Management Association. This article chronicles how this award-winning restoration was accomplished. ER -